Research – Most of Crypto Assets Are Highly Centralized

The beauty of Bitcoin and other cryptocurrencies lies in its decentralized nature, ensuring there is no single point of failure. However new research has found that the majority of the digital asset existing in cryptospehere are highly centralized. Cryptocompare, the cryptocurrency market data aggregator analyzed over 200 crypto assets and had published a Cryptoasset Taxonomy Report.

The report highlights that just 16% of crypto assets are genuinely decentralized, around 55% as centralized and the rest as semi-decentralized.

Read more at news.bitcoin.com

Kraken Lists new cryptos ADA and QTUM, Margin Trading, in future

Popular bitcoin and cryptocurrency exchange Kraken, announced today the listing of two new cryptocurrencies, with ADA and QTUM. Trading and funding in the two assets will launch simultaneously.

While Cardano claims to have the world’s first provably secure proof-of-stake consensus mechanism. Quantum runs an “intercompatible” version of EVM (called the “X86 Virtual Machine”) that allows smart contracts to be written in multiple languages.

Users will be able to trade ADA and QTUM on both Kraken.com and its more advanced platform at trade.kraken.com. Margin trading will not be available at launch for ADA or QTUM but may be enabled in the future.

Read more at cryptoninjas.


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

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Crypto Exchange’s – issues of “transparency, fairness, and security” in crypto trading.

A months-long investigation by the New York Attorney General’s office found that cryptocurrency exchanges are vulnerable to market manipulation and fall short on consumer protection.a 32-page report published Tuesday, the attorney general’s office highlighted issues of “transparency, fairness, and security” in crypto trading. The “Virtual Markets Integrity Report” said that in many cases, exchanges are not doing much to stop unfair market practices. according to the report by Attorney General Barbara Underwood’s office ” The industry has yet to implement serious market surveillance capacities, akin to those of traditional trading venues, to detect and punish suspicious trading activity,

Read more at CNBC

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Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

Local Indian Government Sites under attack of Cryptojacking

While India is in a dilemma to restrict or allow cryptocurrencies, the country’s government website is helping miners by mining cryptos unknowingly. As per the latest security report – Government websites like the director of municipal administration of Andhra Pradesh, Macherla municipality and Tirupati Municipal Corporation are among hundreds of Indian sites being used to mine cryptocurrencies.

A malware known as cryptojacking – where an unauthorized user could use your computer power to mine cryptos. Hackers get users to click on a malicious link in an email that loads crypto mining code on the computer or infects a website with JavaScript code that mines cryptocurrencies using up a visitor’s computing power without consent. While earlier malware attacks were equipped with blocking the data and asking for ransom, cryptojacking has been spreading successfully because of its nature of not being detected.

Read more at economictimes

Top Five Cryptocurrencies as per Market Cap

Bitcoin, Litecoin, Zcash, Cardano, Ether, Dogecoin, Tether, Titcoin, Potcoin, Auroracoin, Primecoin, Swiftcoin just to name a few of exploding cryptocurrency market. As per investing currency list, there are 2260 cryptocurrencies listed on the market as of 14-Sept. As of 15, March 2018 there were 1658 cryptocurrencies, a whooping upward growth. While launching a crypto may not be much of significance, but getting a position in the market is indeed a tough job.

As of March, the cryptocurrency market capitalization was under $369 billion, that indicates that each of the cryptocurrency in March was worth of ~$222 million. However, that’s not the fact – the top 20 leading cryptos account for 89% of the total market — the other 1,638 cryptocurrencies are worth a combined $39.6 billion.

In fact, if you try listing cryptos with the largest market capitalization, here are the top five cryptos as of writing this article –

top 5

As experts recommend while placing your bet choose the one with the market capitilization[total coins that will ever be produced times current value], the coins potential to survive in the market and the ease with which a coin can be traded for fiat currency like the US dollars.

While market cap, its potential to survive and ease to convert are some of the best bets, Traders owning cryptos other than Litecoin, Bitcoin, Ethereum; Bitcoin Cash also find it hard to trade them for actual fiat. Most of the coins could be traded at online cryptocurrency exchange, and individuals could also buy stuff online, but converting it into a fiat means –

  1. First converting it into a significant cryptocurrency [like BTC or ETH]
  2. Then get USD against it.

So even though a USD value is listed against each of the cryptocurrency, that does not signify you can liquidate it as per your wish.

Asia’s First Cryptocurrency Visa Debit Card Coming To Singapore

A Hongkong based startup Crypto.com previously known as Monaco is rolling out Asia’s first cryptocurrency VISA debit card in Singapore. The firm has also applied for money lending licenses in Hong Kong and Singapore to include crypto backed money lending services. Company co-founder and CEO, Kris Marszalek, said – he expected the debit cards, together with Crypto.com’s planned lending service, to ultimately disrupt the credit card industry. He said the way in which banks have been issuing an unsecured revolving credit to consumers who can hardly afford their interest rates bordered on “unethical business.”

Read more at scmp


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

 

Chat app Line introduces 1st cryptocurrency LINK to promote engagement

Line,  the Japanese messaging app firm launches its 1st cryptocurrency LINK that would be exclusively available on the BITBOX digital asset exchange in September. Link is not minted via an ICO instead it would be offered as an incentive to its customer that would also help Line to enhance its customer base.

Line is also introducing Link Chain, a blockchain network to allow seamless integration of decentralized apps.

Read more at linecorp.


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

Bitcoin on it way back to $10000 if it holds its value above $7000, crypto trader says.

Cryptocurrency trader Michael Moro says – If bitcoin holds its value around $7,150, it could be on its way back to $10,000. Speaking on CNBC’s Fast Money he mentioned – If the [$7,000] level holds, say for the next week, two weeks, the bulls will 100 percent be back. They will be more comfortable than the lows for the year are in, and that we are more likely to see $10,000, rather than $5,000. Moro, CEO of cryptocurrency trading firm Genesis Trading and of Genesis Capita said – Once the news broke about the SEC rejection and the price actually held, we did not see the 5, 10, 15 percent sell-off that you’ve seen in previous rejections. So I think the bears have realized they’ve run out of steam.

Read complete news at CNBC


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

SIX MYTHS OF CRYPTOCURRENCY EVERY INVESTOR SHOULD KNOW

2017 has been a transformative year for blockchain and digital currency. As stated by coindesk – The combined market cap rocketed from $15 billion in January to over $600 billion by year’s end. While such exponential growth has acted as a barrier to fresh entrants in crypto domains, with a dip in the market, the newbies are trying to explore the opportunity and get some exposure to cryptosphere. While the hype is all around, the fresh investors might fall for misleading information easily accessible to them.

Our post would talk about some of the myths floating around and the TRUTH behind them. So let’s dive in –

Cryptocurrency is a Ponzi Scheme

When you see your news channel/subscription flashing news like –

“Alleged India Bitconnect head, Divyesh Darji, was arrested this week at an airport in Delhi as he arrived from Dubai. He and conspirators are accused of bilking millions of dollars (Rs 88,000 crore) from Indian investors seeking to find financial refuge during the government’s demonetization campaign.” Read more at news.bitcoin.com

Or

Chinese Police Arrest Hackers Behind $87 Million Cryptocurrency Theft. Read more at ccn.com.”

It might push you to think cryptocurrency is a Ponzi scheme, but its not the fault of the technology but the people who try to misuse and con you and that could happen with any technology.

Cryptocurrency, a use case of blockchain technology has been in the market and used by various verticals across the globe. Firms like Ripple are making seamless payments around the world via digital assets. So while you make up your mind to start investing, make sure to check the reliability and credibility of the firm.

Coins and Tokens are Same

Honestly, Tokens and Coins are the categories of cryptocurrency.

Coins/ Alternative cryptocurrency coins/ Altcoins

In laymen terms, they are the coins that are alternatives to Bitcoin, Ether, etc. The way an altcoin is synthesized is as follows – First, an open source blockchain, with original protocol [ may be a variant of Bitcoin or created their own blockchain like Ethereum, Ripple with new protocol]is picked up and then the underlying code is changed, resulting in a new coin or cryptocoin. Some examples of cryptocoins are – Litecoin, Peercoin, Auroracoin, etc.

Tokens

Tokens could be defined as a representation of a particular utility or asset, which need to reside on top of another blockchain. They are a representation of an asset that is tradeable and fungible, maybe commodities or loyalty points or even other cryptocurrencies.

Tokens need another platform like Omni or Ethereum to operate and exist. Tokens are created over ICO’s or initial Coin Offerings, and is necessary to fund the operating expenses to host it as a service.

Cryptocurrency is only for criminals/tax evaders

Cryptocurrency because of its nature of decentralization and anonymity may have attracted tax evaders and criminals for money laundering and drug trafficking. But they are also used by law-abiding citizens around the world. While one of the use cases of cryptocurrency is for people in underdeveloped and developing countries to enable financial inclusion, it is also helping citizens of countries where there are political and economic instability.

Crypto transactions are anonymous

The essential feature of Bitcoin and other cryptocurrency is that it is private. However, the government in the US has implemented regulations wherein exchanges have to comply with Anti Money Laundering and Know Your Customer Regulations. In the European Union, the exchange platform needs to follow guidelines issued by Financial Action Task Force (FATF), then complemented by national rules. The framework bars the subjected entities, from keeping anonymous accounts or accounts in fictitious names. In Asia as well, the Financial Action Task Force (FATF) is applied. In South Korea that is considered to be one of the biggest hubs of cryptocurrency has banned anonymous trading of cryptocurrencies and requires the entities to verify their customers appropriately.

Bitcoin is the only Cryptocurrency available

Amongst all the cryptocurrency available, Bitcoin is the most popular, backed up by strong community base, is the talk of the town and trending, hence at times mistaken as the only cryptocurrency available.

Cryptocurrency is Not Legal

Cryptocurrency is NOT ILLEGAL. However, the discussion is whether a country accepts it as an alternative to physical currency. Also, government across the globe are trying to lay down regulations to help people from misusing it.

 

References

Cointelegraph, citowise, masterthecrypto

 

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